Google Wallet and Offers combined, allows you to purchase goods from groceries stores, clothing shops, etc. all without ever swiping a physical credit card. All of your information is stored securely on your phone and then transacted using the built-in NFC chip.

The first partners are Citi, Mastercard, First Data and Sprint.

First retail partners are Macy’s, American Eagle, Subway, Noah’s Bagel, and more.

The first cities are New York, San Francisco, Los Angeles, Chicago and Washington, D.C.

Not launching until this summer on the Nexus S 4G.

An industry "leak" points to a likely announcement by Google today that they will soon launch their 'Google Wallet' mobile payment system for NFC technology. The initial "test run" will be on Sprint's Nexus S phone first, and will include New York, San Francisco, Los Angeles, Chicago and Washington, D.C. More cities and phones are planned if the initial launch proves successful. The leak happened late yesterday from a 'Container Store's' memo (pictured below). We should hear something sometime today, so we will keep you informed.

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